62,579 Shares in WellCare Health Plans, Inc. (WCG) Acquired by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. acquired a new position in shares of WellCare Health Plans, Inc. (NYSE:WCG) during the third quarter, Holdings Channel reports. The firm acquired 62,579 shares of the company’s stock, valued at approximately $7,327,000. D. E. Shaw & Co. Inc. owned approximately 0.14% of WellCare Health Plans as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Advisory Services Network LLC purchased a new position in shares of WellCare Health Plans during the third quarter worth approximately $104,000. MSI Financial Services Inc increased its stake in WellCare Health Plans by 40.4% in the third quarter. MSI Financial Services Inc now owns 1,143 shares of the company’s stock worth $134,000 after buying an additional 329 shares during the last quarter. BlackRock Japan Co. Ltd increased its stake in WellCare Health Plans by 95.8% in the third quarter. BlackRock Japan Co. Ltd now owns 1,400 shares of the company’s stock worth $164,000 after buying an additional 685 shares during the last quarter. Marietta Investment Partners LLC bought a new stake in WellCare Health Plans during the third quarter worth $210,000. Finally, Great Lakes Advisors LLC increased its stake in WellCare Health Plans by 3.3% in the third quarter. Great Lakes Advisors LLC now owns 2,099 shares of the company’s stock worth $246,000 after buying an additional 68 shares during the last quarter.

Institutional Ownership by Quarter for WellCare Health Plans (NYSE:WCG)

Shares of WellCare Health Plans, Inc. (NYSE:WCG) traded down 0.29% during midday trading on Friday, hitting $142.55. The stock had a trading volume of 523,932 shares. The firm’s 50-day moving average price is $142.98 and its 200-day moving average price is $125.81. WellCare Health Plans, Inc. has a 1-year low of $81.14 and a 1-year high of $151.93. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 26.25 and a beta of 1.00.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings results on Tuesday, February 7th. The company reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.51. The company earned $3.52 billion during the quarter, compared to analysts’ expectations of $3.56 billion. WellCare Health Plans had a return on equity of 14.01% and a net margin of 1.70%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share. Analysts forecast that WellCare Health Plans, Inc. will post $6.39 earnings per share for the current year.

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A number of analysts have recently weighed in on the company. Stifel Nicolaus downgraded WellCare Health Plans from a “buy” rating to a “hold” rating and set a $147.00 target price for the company. in a research report on Wednesday, January 4th. They noted that the move was a valuation call. J P Morgan Chase & Co downgraded WellCare Health Plans from an “overweight” rating to a “neutral” rating and set a $115.00 target price for the company. in a research report on Thursday, November 10th. Jefferies Group LLC upped their target price on WellCare Health Plans from $137.00 to $142.00 and gave the company a “hold” rating in a research report on Wednesday. Cantor Fitzgerald reiterated a “hold” rating on shares of WellCare Health Plans in a research report on Tuesday. Finally, Piper Jaffray Companies upped their target price on WellCare Health Plans from $155.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $123.83.

In related news, Director Paul E. Weaver sold 3,000 shares of the business’s stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $128.83, for a total transaction of $386,490.00. Following the completion of the transaction, the director now directly owns 15,892 shares in the company, valued at $2,047,366.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.50% of the stock is currently owned by insiders.

WellCare Health Plans Company Profile

WellCare Health Plans, Inc is a managed care company focused on government-sponsored managed care services, primarily through Medicaid, Medicare Advantage (MA) and Medicare Prescription Drug Plans (PDPs) to families, children, seniors and individuals with complex medical needs. The Company’s segments include Medicaid Health Plans, Medicare Health Plans and Medicare PDPs.

5 Day Chart for NYSE:WCG

Want to see what other hedge funds are holding WCG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WellCare Health Plans, Inc. (NYSE:WCG).

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